I actually think that carbon sequestration technology is interesting and may in the end keep coal as an industry alive, at least for a while. However, I am only interested in it to the degree that it makes economic sense. And I am certainly not for it as a vehicle to line the pockets of political cronies.
(From The Washington Free Beacon)
BP and Rio Tinto, which owned the plant’s parent company, decided in 2011 the project was not financially viable and told DOE they would withdraw from the agreement.
With DOE’s help, they found a company to take over the project: Massachusetts-based SCS Energy. The department pledged another $100 million for the project, which was projected to cost another $1.2 billion above initial estimates.
SCS chairman and chief executive James Croyle is a major Democratic donor, according to the Center for Responsive Politics.
Croyle donated $2,300 to President Barack Obama’s 2008 campaign, more than $31,000 to the Democratic Senatorial Campaign Committee in 2010, and nearly $5,000 to scandal-plagued Sen. Bob Menendez (D., N.J.) in 2009 and 2011.